On Sun, 12 May 2002, Bill Stewart wrote:
> The price of goods for which credit card payments are common
> adjusts to a level that reflects the cost of the payment system.
> For the most part, the credit card companies require the merchant to
> hide the credit card charges in the purchase price, so buyers pay part of it
> whether they're using the card or not, though sometimes merchants
> make the fee explicit and charge less for paying in cash.
> Whether you look at these payments as coming out of the merchant's profit
> margin,
> in the long run, it comes out of the buyer's pocket, just as the cost of the
> bricks and mortar or website that the store operates from does.
More of of the CACL 'payer pays it all'...
No, that is -not- where the cost of the bricks, mortar, and such come
from. Where they -do- come from is the alternation of each agent in a
market from buyer to seller. It is this dynamic and the potential for
profit (which long term causes inflation) that drives economics.
Each transaction -must- stand on its own two feet, otherwise the concept
of 'market' and 'voluntary exchnage' go by the wayside.
--
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